Twitter Tweets IPO Announcement, Verizon’s Huge Bond Sale: Morning Buzzers
U.S. stock futures remained steady this morning on data that retail sales rose less than expected in August. The Commerce Department report showed that retail sales only increased 0.2 percent where analysts had forecasted a growth of 0.5 percent. Investors are weighing economic data for signs of whether the Federal Reserve will determine to begin curbing stimulus during the central bank’s meetings next week.
Futures at 8:30 a.m.: DJIA: +0.09% S&P 500: 0.00% NASDAQ: +0.07%
Here’s your cheat sheet to what’s buzzing this morning:
Twitter has filed for an IPO, the social networking site revealed via tweet on Thursday. According to the Wall Street Journal, Twitter’s filing was kept private, so it’s not certain if the company is profitable or how fast it’s growing. The site has 200 million users and helped invent a new style of online communication, and now it will have to prove itself against Internet giants like Facebook (NASDAQ:FB) and Google (NASDAQ:GOOG). Sources who spoke to Gigoam said that the company is valued at around $14 billion.